Mizuho Markets Americas LLC Raises Holdings in Cintas Co. (NASDAQ:CTAS)

Mizuho Markets Americas LLC raised its stake in Cintas Co. (NASDAQ:CTAS) by 244.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,144 shares of the business services provider’s stock after acquiring an additional 21,390 shares during the quarter. Mizuho Markets Americas LLC’s holdings in Cintas were worth $6,206,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. LGT Financial Advisors LLC lifted its holdings in Cintas by 311.1% in the 2nd quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 28 shares in the last quarter. Financial Management Professionals Inc. boosted its position in Cintas by 341.4% during the third quarter. Financial Management Professionals Inc. now owns 128 shares of the business services provider’s stock worth $26,000 after acquiring an additional 99 shares during the last quarter. Hollencrest Capital Management grew its stake in Cintas by 433.3% in the 3rd quarter. Hollencrest Capital Management now owns 128 shares of the business services provider’s stock worth $26,000 after acquiring an additional 104 shares during the period. Atwood & Palmer Inc. acquired a new position in Cintas in the 2nd quarter valued at $27,000. Finally, Addison Advisors LLC lifted its stake in shares of Cintas by 495.7% during the 3rd quarter. Addison Advisors LLC now owns 137 shares of the business services provider’s stock worth $28,000 after purchasing an additional 114 shares during the period. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Cintas Stock Down 0.7 %

NASDAQ CTAS opened at $215.20 on Friday. The stock has a market cap of $86.79 billion, a PE ratio of 54.34, a P/E/G ratio of 4.40 and a beta of 1.32. The business has a 50 day moving average price of $221.49 and a two-hundred day moving average price of $195.28. Cintas Co. has a fifty-two week low of $136.50 and a fifty-two week high of $227.35. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50.

Cintas (NASDAQ:CTAS) last released its quarterly earnings results on Wednesday, September 25th. The business services provider reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.10. Cintas had a net margin of 16.80% and a return on equity of 39.56%. The business had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same period last year, the business earned $3.70 EPS. The business’s revenue was up 6.8% on a year-over-year basis. As a group, sell-side analysts predict that Cintas Co. will post 4.23 EPS for the current fiscal year.

Cintas announced that its Board of Directors has authorized a share repurchase plan on Tuesday, July 23rd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the business services provider to reacquire up to 1.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Cintas Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 15th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.72%. The ex-dividend date is Friday, November 15th. Cintas’s dividend payout ratio (DPR) is 39.39%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CTAS. UBS Group lifted their price objective on Cintas from $219.00 to $240.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. The Goldman Sachs Group raised their target price on shares of Cintas from $212.00 to $236.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Wells Fargo & Company upped their price target on shares of Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a research report on Thursday, September 26th. Baird R W lowered shares of Cintas from a “strong-buy” rating to a “hold” rating in a report on Friday, July 19th. Finally, Morgan Stanley upped their price objective on Cintas from $170.00 to $185.00 and gave the stock an “equal weight” rating in a report on Thursday, September 26th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Cintas currently has a consensus rating of “Hold” and an average price target of $199.63.

About Cintas

Cintas Corporation engages in the provision of corporate identity uniforms and related business services primarily in the United States, Canada, and Latin America. It operates through Uniform Rental and Facility Services, First Aid and Safety Services, and All Other segments. The company rents and services uniforms and other garments, including flame resistant clothing, mats, mops and shop towels, and other ancillary items; and provides restroom cleaning services and supplies, as well as sells uniforms.